Nepal’s Finance Minister: China’s fast development benefits Nepal

Increases the bookmark

Nepal’s Finance Minister Ram S. Mahat delivers a speech in the meeting with Chinese entrepreneurs held in the embassy of Nepal to China on August 9, 2014.

BEIJING, August 11 (People’s Daily Online) -- Nepal looks forward to more investment from Chinese enterprises and China’s growing economic power benefits Nepal, says Ram S. Mahat, Nepal’s Finance Minister in the meeting with Chinese entrepreneurs held in the embassy of Nepal to China on August 9, 2014.

Nepal looks forward to more investment from Chinese enterprise

Mahat says that Nepal has set a goal to become a developed country in 80 years and the goal is a big Challenge to Nepal. So Nepal, he stressed, needed more investment and economic development support from China.

The minister says that Nepal is a small market, but ASEAN is a big market for China. Nepal is going to sign the ASEAN agreement in the future, so Nepal is also a potential market for Chinese enterprises.

China’s fast development benefits Nepal

Mahat points out that China has emerged as an economic and political power and that the rise of China also benefits Nepal. China is a big market for Nepal.

The foreign trade volume of Nepal reached 592 billion rupees, up 19.1% and its export trade rose 19.9% to 68.2 billion rupees in the first nine months of 2013/2014 fiscal year. China is one of the main export destinations for Nepal.

Nepal will learn from China’s experience as to how to keep economic growth fast

The minister says that economic development is an important agenda for any government, and economy has become a key word in international diplomacy. Economic development is closely related to living standards, so it concerns every individual.

He says that the Chinese government sets a good example for Nepal to achieve a rapid economic growth. In an effort to keep the economy grow fast, Nepal will adhere to market economy policy and open-door policy as China does.